Originations

The company had its best fourth quarter ever for loan production, with purchases making up nearly 45% of that.

The rebranding comes four months after UniversalCIS — itself a combination name — and Credit Plus merged.

Optimal Blue researchers found correlations of 75% or more when looking at numbers of different loan-size cohorts, but the percentages came in lower when state data was analyzed.

The Mortgage Bankers Association now predicts slightly more purchases even with higher rates, but the Ukraine situation could change that.

In a court filing, America’s Moneyline claimed the wholesale lender refused to fund over 100 loans held in its pipeline unless it ceased working with leading competitors.

Panorama Mortgage Group and Hunt Mortgage also appoint COOs, SitusAMC adds to its title sales team and non-QM lender Sprout finds head of TPO business with internal promotion.

With an Q4 earnings report that showed declining revenues, Jay Farner called out lenders who reduce pricing and threw shade at certain unnamed lenders who fire employees via video call.

These companies benefited from the strong refinance market in 2021, but are facing a different environment with fewer mortgage originations expected this year.

The company has been working to improve its bottom-line results by aggressively cutting expenses and repositioning its servicing operation to maximize its profitability, according to CEO Willie Newman.

Strong economic data was countered by international political developments, sending the 30-year rate lower for the first time in a month.

However, all but one company did less business in the most recent period than during the third quarter, and new insurance written was down across the board compared with one year prior.

Overall application activity was down by more than 40% compared with one year ago, the Mortgage Bankers Association found.

Rising interest rates are likely to further slow the rate of appreciation, the Federal Housing Finance Agency said in its quarterly Home Price Index report.

The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.

Third-party originators could help government-related agencies surmount some of the hurdles facing borrowers if they had more access to lending programs, said Linda McCoy, president of an industry trade group.

The estimated rate of annual sales also dropped in January to its slowest pace since July.

The National Fair Housing Alliance's framework, named Purpose, Process and Monitoring, looks to examine the lifecycle of an artificial intelligence model in order to avoid unfairly discriminatory outcomes.

The 2022 origination outlook was dropped by $172 billion and for 2023, economists at the government-sponsored enterprise made a $226 billion reduction.

Despite a slowing in the private-label securitization market in January, lenders and investors are expecting a strong year for outside-the-box originations and their secondary market sales.

The 30-year average increased by 23 basis points on inflation, geopolitical news.